Despite the modest crypto market recovery, the NFT market sales volume has dropped by 4.7% to $95.9 million.
Bitcoin (BTC) has recovered to the $85,000 level. At the same time, Ethereum (ETH) has shown a modest 2.4% recovery in the last seven days and is hovering at the $1,600 level. The global crypto market cap is now $2.69 trillion, up from last week’s $2.63 trillion.
Surprisingly, while sales are down, market participation has surged with NFT buyers increasing by 96.6% to 252,354. NFT sellers have also grown by 79.2% to 153,892.
NFT transactions have also risen by 10.4% during this period to 1,569,670.
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Ethereum maintains its dominant position
According to data from CryptoSlam, the Ethereum blockchain maintains its position as the leading platform for NFT sales. However, its volume has dropped by 38.7% to $21.6 million. Ethereum’s wash trading also decreased by 23% to $2.1 million.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Polygon (POL) has strengthened its second-place position with $21.1 million in sales, up 21.5% from the previous week. Bitcoin has climbed to third place with $17.2 million in sales, showing a 42.2% increase.
Mythos Chain now holds fourth position with $14.9 million in sales, a 5.4% improvement. Solana (SOL) rounds out the top five with $6.8 million and has recovered 7% from its previous performance.
The buyer count has increased across all major blockchains, with Solana seeing the largest growth at 133.7%, followed by Bitcoin at 128.9% and Polygon at 125%.
CryptoPunks sales plunge 80%
Courtyard on Polygon has maintained its first position in the collection rankings with $19.5 million in sales, up 24.6% from last week. DMarket holds second place with $9.7 million, which is an 8.8% increase.
Guild of Guardians Heroes has moved up to third place with $3.8 million in sales, a 3.6% rise. Bitcoin’s BRC-20 NFTs follow in fourth with $3.6 million and have surged by 42.1%.
The most notable change in the rankings includes CryptoPunks. Considered one of the most iconic NFT collections on the Ethereum blockchain, CryptoPunks has fallen to sixth place with just $1.7 million in sales. This is an 80.5% collapse from the previous week’s $9.1 million. This collection has also seen drops in transactions (51.2%), buyers (56.6%), and sellers (59.4%).
Despite CryptoPunks’ overall slump, individual sales from this collection still lead the top NFT transactions. Four of the top five highest-priced NFT sales were CryptoPunks. However, the top spot went to SuperRare #10093, which sold for 255 ETH ($419,772).
Other notable high-value sales include:
- CryptoPunks #3873 sold for 165 ETH ($259,514)
- CryptoPunks #1820 sold for 72.69 ETH ($118,299)
- CryptoPunks #1999 sold for 65 ETH ($103,110)
- CryptoPunks #7163 sold for 62.5 ETH ($99,167)
Read more: XRP price historical trends confirm it could still mint millionaires despite recent plunge to $1.64
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